Madam Chair, we should start by saying that the government has frozen the premium rate until the fall. It will then be reassessed, but the chief actuary cannot have it vary by more than 15¢. This amount will determine, by 2012, the size of the deficit versus the EI fund's obligations. Well, at that rate, there will be a surplus in the fund again by 2012.
How will that happen? If the increase remains constant at 15¢ per year, the fund will have a balanced budget, and as of 2012, there will be a surplus because there will no longer be temporary measures in place. The current actuarial deficit calculations to determine the account fiscal balance point, which now stands at $2.43, will no longer exist. It will not be the same in 2012, so, based on the calculations in the most recent budget, the fund will be generating $19 billion in surplus between 2011 and 2015.
I will now get to our second question, in other words how much we anticipate this bill to cost. We believe it will cost a maximum of $3 billion per year. This amount is based on the government's own figures. We can include this information along with the notes we will be sending you.
In other words at this rate, if we were to implement Bill C-308 over the next five years, there would be $3 billion more per year, the fund would be nearing balance by 2012 and there would be a $4 billion surplus in 2015. This is not a result of casual calculations, it is based on the current budget. These $19 billion are not something the government is denying, because it will use them for other purposes, as was done in the past.
I do not know if this answers all of your questions.